Non-Need-Based Options

The first two loans listed below are sponsored by the federal government, but UAB determines your eligibility and handles processing. All first-time borrowers are required to complete entrance counseling online.

• Maximum amount for dependent students:
  • $5,500 (Freshmen) - effective 08-09
  • $6,500 (Sophomores) - effective 08-09
  • $7,500/year (Juniors and Seniors)
  • $8,500/year (Graduate Students)
• Maximum amount for independent students:
  • $9,500 (Freshmen) - effective 08-09
  • $10,500 (Sophomores) - effective 08-09
  • $12,500/year (Juniors and Seniors)
  • $20,500/year (Graduate Students) - effective 08-09
• Interest rate: varies with a maximum of 8.25 percent, and interest begins accruing once funds are disbursed
• You must enroll on at least a half-time basis to receive a Stafford Loan for each term of the loan.  Six (6) semester hours for Undergraduate students and five (5) semester hours for Graduate students.
• Repayment period: several plans available
• Repayment and interest charges can be deferred until six months after graduation or when your enrollment status drops below half-time (less than 6 credit hours for undergraduates, less than 5 for graduate students). An exit interview is required before you begin repayment.
• Apply by completing the FAFSA.
• If you currently have a loan, get the latest information on it here.

• Maximum amount: the difference between your total cost of attendance and the amount of other financial assistance you receive each year
• You must enroll on at least a half-time basis to receive a PLUS Loan for each term of the loan.  Six (6) semester hours for Undergraduate students and five (5) semester hours for Graduate students.
• Interest rate: varies annually with a maximum of 9 percent, and interest begins accruing once funds are disbursed
• Repayment: Several plans are available, but repayment begins when funds are distributed unless you contact the Direct Loan Servicing Center to request a deferment until your student graduates.  The phone number is 1-800-848-0979.
• Apply by completing the appropriate worksheet in related links above.

• Maximum amount: the difference between your total cost of attendance and the amount of other financial assistance you receive each year.
• You must enroll on at least a half-time basis to receive a Grad PLUS Loan for each term of the loan.  Six (6) semester hours for Undergraduate students and five (5) semester hours for Graduate students.
• Interest rate: fixed rate of 7.9 percent and interest begins accruing once funds are disbursed.
• Repayment: Several plans are available, but repayment begins when funds are distributed.
• Must complete and submit the FAFSA before applying for the PLUS.
• Apply by contacting the UAB Financial Aid Office.

If you already have these forms on file with the UAB Financial Aid office for your Federal Aid application, you DO NOT need to re-submit them.

Contact the lender of your choice directly by telephone or on-line. Be sure to list UAB, the amount, and term for which you wish loan approval—loans cannot be approved that begin in one academic year and extend into the next. A separate application for each academic year will be required in such cases. *Approved amounts cannot exceed your cost of attendance for the loan period, less financial aid, scholarships and other funding sources applied toward your educational expenses. If you are required to come to the office to endorse a check, you will be notified by UAB Financial Aid.

Federal grants differ from loans in that they do not have to be repaid.

Federal TEACH Grant
The Federal TEACH Grant provides funds for students pursuing a degree in specific education programs.  The program provides grant funds for postsecondary students who are completing coursework in a federally designated critical-need area of education and agree to serve for at least four-years as a full-time, highly qualified teacher in a low-income school.  Eligible students may receive up to $4,000 per year in TEACH Grant funds.  Failure to complete the four-year service agreement will result in the grant being converted to a Federal Direct Unsubsidized Stafford/Ford Loan that you must repay in full, with interest accruing from the time of discursement.

Veteran Benefits:

• You may qualify for Montgomery G.I. Bill benefits if you enlisted in the military as active duty or selective reserve status.
• You may also qualify for assistance if one or your parents is/was a military veteran.
• Apply by contacting your Veterans Affairs regional office.

If you are an out-of-state student (not a legal resident of Alabama), look for similar programs offered by your home state. Contact the agency that coordinates aid programs in your state for more information.

Alabama National Guard Educational Assistance Program (ANGEAP):

• This program is open to active Alabama National Guard members in good standing who have completed basic training. Good academic progress in a degree program is required.
• Amount: up to $500/semester or $1,000/year
• Apply by contacting your National Guard unit commander.

• This award recognizes exceptional high school seniors.
• Apply by contacting the Alabama Department of Education at (334) 242-8059.

• This program is open to eligible dependents or spouses of Alabama police officers or firefighters killed in the line of duty.
• Awards apply only to the cost of undergraduate study in public schools such as UAB.
• Apply by contacting ACHE at (334) 242-2274.

• This program is open to employed, full-time certified public school teachers, counselors, and principals. Priority is given to teachers in English, science, math, social science, history, and grades K-6.
• The award only provides assistance for tuition and fees for three technology courses in a specialized area. Recipients must maintain a B average and successfully complete the courses.
• Apply by contacting ACHE at (334) 242-2274 or the UAB Financial Aid office.